QRG Capital Management Inc. Has $22.43 Million Position in Elevance Health, Inc. (NYSE:ELV)

QRG Capital Management Inc. trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 26.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,813 shares of the company's stock after selling 21,580 shares during the quarter. QRG Capital Management Inc.'s holdings in Elevance Health were worth $22,434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Lifeworks Advisors LLC lifted its holdings in shares of Elevance Health by 2.5% in the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company's stock worth $539,000 after purchasing an additional 25 shares during the last quarter. Catalyst Financial Partners LLC grew its holdings in shares of Elevance Health by 2.9% during the third quarter. Catalyst Financial Partners LLC now owns 918 shares of the company's stock valued at $477,000 after buying an additional 26 shares in the last quarter. Fullcircle Wealth LLC raised its position in Elevance Health by 1.5% during the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company's stock valued at $906,000 after buying an additional 26 shares during the period. Dunhill Financial LLC lifted its stake in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after acquiring an additional 26 shares in the last quarter. Finally, Catalina Capital Group LLC boosted its position in Elevance Health by 1.7% during the 3rd quarter. Catalina Capital Group LLC now owns 1,656 shares of the company's stock worth $861,000 after acquiring an additional 27 shares during the period. Institutional investors own 89.24% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on ELV. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Saturday. Mizuho cut their price target on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Argus reiterated a "hold" rating and set a $405.40 price target on shares of Elevance Health in a report on Wednesday, January 29th. Finally, Barclays raised their target price on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and a consensus target price of $517.03.

Elevance Health Price Performance

Shares of ELV traded down $1.25 on Monday, hitting $395.63. The company's stock had a trading volume of 1,523,417 shares, compared to its average volume of 1,630,453. The company has a 50 day moving average price of $387.78 and a 200 day moving average price of $438.36. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a market capitalization of $89.95 billion, a PE ratio of 15.45, a PEG ratio of 1.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Monday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio (DPR) is currently 26.71%.

About Elevance Health

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.